No.

PS&BT/5393
22nd March, 2012

The Chief Executives of all member banks

Dear Sirs/Madam,

Financial Inclusion by Extension of Banking Services – Use of Business

Correspondents (BCs) - Standard Operating Procedures

Please refer to the Reserve Bank of India circular RBI/2011-12/425, DBOD No. BL.BC.82/22.01.
009/ 2011-12 dated March 2, 2012, on the Financial Inclusion by Extension of Banking Services
– Use of Business Correspondents (BCs), wherein, RBI has decided to permit interoperability at
the retail outlets or sub-agents of BCs (i.e. at the point of customer interface), provided the
technology available with the bank, which has appointed the BC, supports interoperability,
subject to the certain conditions. Further, it is mentioned that the banks follow the standard
operating procedures to be advised by the Indian Banks’ Association.

The Standard Operating Procedure for the above has been prepared by the National Payments
Corporation of India (NPCI). Please find attached the following documents received from NPCI:

i. Letter from National Payment Corporation of India Ref: NPCI:2011-12:FI:2636

dated 21st March, 2012 on Documents on Standard Operating Procedures for
BC Interoperability
ii. Procedural Guidelines for Business Correspondent Interoperability
iii. Interface Specification for BC Interoperability
iv. Checklist for On-Boarding of Banks on Standard Operating Procedures for
Business Correspondent Interoperability

In case of any clarifications on these documents, you are requested kindly get in touch with the
National Payments Corporation of India.

This is for your information and necessary action.

Yours faithfully,

Sd/-
K. Unnikrishnan
Deputy Chief Executive

Enclosure: As stated above

Note: A CD containing the above documents is being sent separately.
Endt No.PS&BT/5393 dated 22nd March, 2012
Copy forwarded for information and necessary action to:

1. The Secretary, Government of India, Ministry of Finance, Department of Financial

Services, Jeevan Deep Building, Parliament Street, New Delhi – 110 001, with
reference to copy of the letter F.No.:9/6/2011-F1, dated 7th March, 2012 on
Amendment of regulations to allow Business Correspondent Inter-operability.

2. The Chief General Manager-in-Charge, Reserve Bank of India, Department of

Banking Operations and Development, Central Office, Central Office Building, 13th
Floor, Shahid Bhagat Singh Marg, Fort, Mumbai – 400 001, with reference to the
letter DBOD.No.BL.13664/22.01.009/2011-2012 dated 16th March, 2012 on
Interoperability of Business Correspondents(BCs) – Issues.

3. The Chief Executive Officer, National Payments Corporation of India, C-9, 8th Floor,
RBI Premises, Bandra-Kurla Complex, Bandra – East, Mumbai – 400 052 with
reference to his letter Ref. No. NPCI:2011-12:FI:2636 dated 21st March, 2012 on
Documents for Standard Operating Procedures for BC Interoperability.

K. Unnikrishnan
Deputy Chief Executive